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Michael Kors settles U.S. lawsuit alleging deceptive price tags| Reuters
It's no secret that most outlets are not real, that they sell specially made inferior goods meant for price-discrimination.
Jos. A. Banks is notorious for their incessant yet ephemeral sales where it's all 3 for the price of 1 or whatever. I think even JC Penney is guilty of eternally changing sales that have no effect on the consistent real price being charged. I forgot if it was Tyrrwhit or Lewin or whoever, that had the fine print about how their markdowns are from the prices listed... on some obscure link that in otherwise unfindable.
This old trick of fake discounts is known as reference pricing. It is used because it works. Does it work less in the smartphone age? Are customers complicit, knowing that they like the feel of a deal even if they know it's a lie? Why is this scam not cracked down upon more?
Michael Kors Holdings Ltd (KORS.N) agreed to pay $4.88 million and change its sales practices to settle a class action lawsuit claiming it used deceptive price tags at its outlet stores to fool shoppers into believing they were getting big bargains.
It's no secret that most outlets are not real, that they sell specially made inferior goods meant for price-discrimination.
Jos. A. Banks is notorious for their incessant yet ephemeral sales where it's all 3 for the price of 1 or whatever. I think even JC Penney is guilty of eternally changing sales that have no effect on the consistent real price being charged. I forgot if it was Tyrrwhit or Lewin or whoever, that had the fine print about how their markdowns are from the prices listed... on some obscure link that in otherwise unfindable.
This old trick of fake discounts is known as reference pricing. It is used because it works. Does it work less in the smartphone age? Are customers complicit, knowing that they like the feel of a deal even if they know it's a lie? Why is this scam not cracked down upon more?